ASPINWALL RIVERFRONT MARKET ANALYSIS
Urban Partners was retained by Allegheny Development Partners to prepare a strategic real estate market analysis evaluating potential redevelopment opportunities for two sites fronting the Allegheny River - the one-acre Aspinwall Marina site at the Aspinwall Riverfront Park and the adjacent 47-acre linear Azcon parcel, including land in Sharpsburg and Aspinwall Boroughs and O’Hara Township.
Our analysis focused on the retail, residential, commercial, and hotel markets and identified potential new uses that would be appropriate for location at the marina and/or Azcon parcel, that support and are compatible with Riverfront Park operations and provide services and amenities to the surrounding communities. Identified locally-serving retail opportunities include a specialty food store and dry cleaners. Regionally-serving opportunities are significant,
including furniture stores, a home center, clothing and shoe stores, sporting goods stores, a department store, and several full-service restaurants.
Residential uses for the site were determined to be fairly limited due to recent new construction of single family homes, townhouses and condominiums that have yet to be absorbed into the market. Similarly, the office and hotel marked were deemed to be saturated for the next several years due to current over-supply. However, immediate opportunities were identified for active adult age-restricted and high amenity rental housing development.